Posted on 02/25/2016 4:43:23 PM PST by sparklite2
WASHINGTON (Reuters) - Herbalife Ltd is in talks with government regulators regarding a probe of the company's business practices and said that the outcome of the talks was uncertain, the company said in a filing on Thursday.
The Federal Trade Commission opened a probe of Herbalife following allegations by hedge fund manager William Ackman that it had a fraudulent business model that he compared to a pyramid scheme. Ackman's Pershing Square Capital Management unveiled a $1 billion short bet against the company in 2012.
(Excerpt) Read more at newsdaily.com ...
In re Amway Corp.
https://en.wikipedia.org/wiki/In_re_Amway_Corp.
I don’t get it. There’s no there there.
not really much on details.
Most of these outfits are Multi Level Marketing.
Herbalife has been a convenient punching bag over the years.
Ackerman shorted this stock by a billion then went on TV and hammered the company practices. Stock dropped, Ackerman had made 300 million but didn’t close the short position.
He supposedly lost 500 million overall.
Now he’s under investigation.
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